https://ttlc.intuit.com/community/retirement/discussion/re-401k-withdrawal/01/2330079#M156389 <P>If you were older than 59 1/2 when you took out the money you will not have an early withdrawal penalty but that money is all taxable] on your next federal tax return.&nbsp; &nbsp;You will get a 1099R in January that has to go on your 2021 tax return.</P> Thu, 15 Jul 2021 19:29:01 GMT xmasbaby0 2021-07-15T19:29:01Z https://ttlc.intuit.com/community/retirement/discussion/401k-withdrawal/01/2330064#M156388 <P>I am 60 and took out 5k out of my 401k due to a move out of state. I withdrew &nbsp;the funds in 2021. How will that affect me when I file taxes in 2022. Part of it included a loan that wasn’t paid back. Would that be a penalty and a hard tax hit. I do the standard itemized when filing. Normally get a small refund. I make under 50k live in DE now. Moved from FL.</P> Thu, 15 Jul 2021 19:21:29 GMT https://ttlc.intuit.com/community/retirement/discussion/401k-withdrawal/01/2330064#M156388 shasha1 2021-07-15T19:21:29Z https://ttlc.intuit.com/community/retirement/discussion/re-401k-withdrawal/01/2330079#M156389 <P>If you were older than 59 1/2 when you took out the money you will not have an early withdrawal penalty but that money is all taxable] on your next federal tax return.&nbsp; &nbsp;You will get a 1099R in January that has to go on your 2021 tax return.</P> Thu, 15 Jul 2021 19:29:01 GMT https://ttlc.intuit.com/community/retirement/discussion/re-401k-withdrawal/01/2330079#M156389 xmasbaby0 2021-07-15T19:29:01Z